Disclosure: Members of our team may own positions in assets mentioned in this report. This statement is intended to disclose any conflict of interest and should not be misconstrued as a recommendation to purchase any token. This content is for informational purposes only and you should not make decisions based solely on it. This is not investment advice.
We’re starting to see an interesting pattern in crypto markets: buyers float in and push price up during the Asia session, sellers come out from behind the curtains and push the market lower during the London session, and New York wakes up to buy the dip. The same pattern has occurred for a few days now. Given all the negative crypto news swarming out of Asia, this is an intriguing dynamic. Altcoins have had a pretty rough day so far, with the exception of big daddy AXS which just keeps moving.
Speculators vs HODLers
- The amount of BTC with short-term holders is in decline while the picture of longer-term holders is quite the opposite. Since the start of the year, the number of BTC held by long-term holders is up by 5.3% while the number of BTC with shorter-term investors has reduced by 9.1%.
- While the trend in BTC holders is fairly obvious, there’s also a methodology quirk that comes into play. Long-term and short-term are subjective terms, and GlassNode defines a long-term holder as anyone that